Login ID:
Partner Login
Contact Us : 7066511911

Oilseeds Commentary: Soybean futures take support of lower prices, rise above 4400

25 Nov 2020 9:04 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Mumbai (Commodities Control) – NCDEX Soybean futures today went up by 47 Rs to close at 4404 Rs/Qtl.

As anticipated earlier, prices rebound from lower levels to gain today after falling consecutively from last two sessions.

Soybean crush margin remains robust to attract robust buying by plantation and stockist alike. As of today soybean crush margin for Indore spot prices is 130/150 Rs/Qtl positive. Its hugely encouraging for soybean extraction plants to keep crushing at aggressive pace.

Soybean meal export demand is driving meal prices higher as spread between US Gulf Soymeal FOB and Kandla Soymeal FOR is less than $20/MT which is likely to be favourable for Indian soymeal. It makes Indian soymeal lucrative for overseas buyers.

Henceforth, NCDEX Soybean futures are likely to hold support of 4300 Rs./Qtl and trade towards 4400/4450 Rs/Qtl in coming session.

(Commodities Control Bureau)

  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  

Top | Post Comment  

Latest Market Commentary
Mustard Seed, Oil Fell Down As New Arrival Begins, Tota...
Mustard seed, oil steady today after consistent price r...
U.S. Soybean Export Sales Over Doubled to 18,17,700 MT ...
India Rabi Oilseeds Sowing Up by 5.34% As On Jan 22 At...
Soy Complex Soybean Oil (CBT) Signs of a Positive R...
Top 5 News
NAFED Approved 8623 MT Tur (K-2019) In Karnataka At Rs ...
India Barley Sowing Progress As On January 21
India Maize Sowing Progress As On January 21
India Jowar Sowing Progress As On January 21
India Wheat Sowing Progress As On January 21
Top 5 Special Reports
Weekly: Cotton#2 Posts Fourth Straight Weekly Rise amid...
Weekly: NY Sugar Slips Sub-16 Cents as Fund-Buying Fren...
USD/INR (Jan 21) Weak Price Trend / Next Target at 7...
USD/INR (Jan 21) Weak Price Trend / Next Target at 7...
USD/INR (Jan 21) Weak Price Trend / Next Target at 7...
Copyright © CC Commodity Info Services LLP. All rights reserved.